But Powell had a second message in his remarks, in which he stressed the bank’s independence ahead of the next presidential election. Central banks everywhere find themselves in the political cross hairs. How big is the threat, and what’s at stake? We’ll unpack the growing tension between populism and policy makers below.Canadian stock market listings. Now the TMX is slated to get a new addition, albeit one some investors are already well familiar with.
As if on cue, the first question Powell faced from senators started with “Former president Trump ...” The problem is that monetary policy is all about hard decisions. When the economy is running hot and unemployment is low, central bankers raise interest rates to slow things down to keep inflation in check. Show me a politician willing to make that decision.Not really since the 1960s when prime minister John Diefenbaker and Bank of Canada governor James Coyne got into an almighty tussle, that ultimately led to Coyne’s resignation.
A more concerning comment came from Finance Minister Chrystia Freeland, who called the bank’s decision to stop raising interest rates last July a “welcome relief for Canadians.” This was seen as a more serious breach of protocol, as the Finance Minister has the power to give instructions to the central bank governor.
Italia Ultime Notizie, Italia Notizie
Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.
Business Brief: A story so hot, it should be encryptedHow an entrepreneur raised in small-town Ontario became one of the most consequential figures in a global crackdown on organized crime
Leggi di più »
Business Brief: Of hard hats and hard truthsAlso in today’s edition: TD tune-up and party at the Fed
Leggi di più »
Business Brief: Now is the summer of our (labour) discontentAlso in today’s edition: AI on whether there’s an AI bubble, and what’s a Toronto office tower worth, anyway
Leggi di più »
Business Brief: Tourists go home, but leave your moneyAlso in today’s edition: Boeing’s guilty plea and watching for a U.S. recession
Leggi di più »
Business Brief: Canada’s digital taxes set stage for trade warAlso in today’s edition: Navigating through France’s election surprise and Air Canada’s future
Leggi di più »
Business Brief: How homegrown successes are paying off – but not for CanadiansA dramatic shift in the way startups get funded is hurting the economy. Also in today’s edition: Streaming wars and a rental riddle
Leggi di più »